Centuri Holdings, Inc. (NYSE:CTRI) Sees Significant Increase in Short Interest

Centuri Holdings, Inc. (NYSE:CTRI) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 3,740,000 shares, an increase of 16.5% from the September 15th total of 3,210,000 shares. Approximately 22.4% of the shares of the stock are short sold. Based on an average daily volume of 420,700 shares, the days-to-cover ratio is currently 8.9 days.

Centuri Trading Up 4.6 %

CTRI stock traded up $0.82 during midday trading on Wednesday, hitting $18.60. 764,708 shares of the company traded hands, compared to its average volume of 522,494. Centuri has a twelve month low of $14.47 and a twelve month high of $28.65. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 1.94. The firm’s 50 day simple moving average is $16.43.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Monday, July 29th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $672.08 million for the quarter, compared to the consensus estimate of $760.55 million. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. Equities analysts predict that Centuri will post 0.43 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on CTRI. JPMorgan Chase & Co. downgraded shares of Centuri from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $19.00 to $16.00 in a research report on Monday, October 7th. KeyCorp initiated coverage on Centuri in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Wells Fargo & Company dropped their price target on Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Bank of America decreased their price objective on Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research report on Tuesday, July 30th. Finally, UBS Group downgraded Centuri from a “buy” rating to a “neutral” rating and dropped their target price for the company from $30.00 to $17.00 in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Insider Buying and Selling at Centuri

In other news, Director William Fehrman bought 20,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average cost of $16.50 per share, with a total value of $330,000.00. Following the completion of the acquisition, the director now directly owns 45,000 shares in the company, valued at approximately $742,500. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTRI. Massachusetts Financial Services Co. MA acquired a new position in shares of Centuri in the second quarter valued at $33,619,000. Clearbridge Investments LLC bought a new stake in Centuri in the 2nd quarter valued at $5,587,000. Point72 Asset Management L.P. acquired a new position in shares of Centuri in the 2nd quarter valued at $4,339,000. Ghisallo Capital Management LLC bought a new position in shares of Centuri during the 2nd quarter worth about $3,409,000. Finally, Maverick Capital Ltd. bought a new position in shares of Centuri during the 2nd quarter worth about $2,922,000.

Centuri Company Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.